Tuesday 26 September 2017

Bank gets more details of couple's spending

AIB Headquarters in Dublin Photo: Bloomberg
AIB Headquarters in Dublin Photo: Bloomberg

Tim Healy

AIB has secured further information, and is awaiting more, concerning the expenditure of a couple whose debt to the bank amounts to almost €20m, the Commercial Court has been told.

To facilitate the exchange of that information, Mr Justice Brian McGovern agreed to adjourn to April the bank's proceedings against William and Sheila Moran, who owned the well-known pub-restaurant Morans On The Weir, Kilcolgan, Co Galway.

Earlier this month the bank secured orders requiring the couple provide further information about their expenditure.

The bank alleged they had spent €900,000 on living expenses from proceeds of property sales but hadn't used any of the proceeds to reduce the bank debt.

In court earlier this month, the couple had, through a solicitor, denied claims they had failed to fully answer questions about transactions and their living expenses.

The court heard that Mr Moran is seriously ill and his wife is a housewife with no involvement in her husband's financial affairs.

Irish Independent

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